Join our mailing list for Real Estate News, Events, Insights & Resources.
Fibra Monterrey, First Company in Mexico to Replace LIBOR Rate with SOFR
- Fibra Mty, a real estate investment trust, becomes the first company in Mexico to transition from the LIBOR to the SOFR rate in its $150 million credit.
03/17/2022
Fibra Mty, a real estate investment trust in the industrial and office sector, is positioned as the first company in Mexico to transition from the LIBOR Rate to the SOFR Rate in its US$150 million unsecured syndicated loan, issued last December 3, 2021.
"The original one-month LIBOR benchmark interest rate was replaced with the one-month term SOFR rate and the margin over the benchmark rate remained unchanged. The LIBOR-SOFR transition language considered since the execution of the credit facility was indispensable for an orderly adoption," Fibra MTY stated in its press release, in which it highlighted that it is a pioneer in making such transition in Mexico.
It also stressed that this move eliminated the risk related to the cessation of publication of the LIBOR rate without generating a material effect on the financial cost.
This contributes to the predictability of flows that is typical of the issuer's business model, and allows it to participate in the hedging market for this loan.
Read the full article (in Spanish)
Read the full article (in Spanish)
ABOUT SiiLA
Founded in 2015, SiiLA is the industry leading REsource for comprehensive commercial real estate market insights, news and events across Latin America. The SiiLA suite of innovative products drive greater accuracy, efficiency, and strategic advantages for top players in the commercial real estate industry.
More Paper, Less Cash: FIBRA SOMA and the Cost of Not Paying
05/18/2026Industrial Availability No Longer Reflects Exits, but Expectations
05/13/2026How Do Companies Expand in Mexico’s Office Market?
05/11/2026Industrial Absorption Follows Supply, Not the Economic Cycle
05/07/2026Insurgentes Builds Big, but Absorbs Small
05/05/2026Trusted by Leading Publications
Exclusive Access
